Hempel has completed the sale of its wholly owned Russian subsidiary to Atomstroykomplex, a Russian industrial company, after obtaining necessary approvals from the relevant authorities.
Atomstroykomplex acquired Hempel’s legal entity in Russia, including its assets and employees. No active business was included in the sale.
“Since announcing our intentions to exit Russia in April 2022, we have worked to find a suitable buyer for our Russian assets,” said Michael Hansen, Hempel group president and CEO.
The terms of the transaction were not disclosed.